Tracey McDermott to join Standard Chartered

McDermott will join the firm as group head of corporate, public and regulatory affairs on 20th March and will report to Chief Executive Bill Winters.

Bill Winters said: “Tracey has played a critical role in shaping and changing behaviours in the UK financial sector.

"Her strong leadership skills, together with a combined experience of bank supervision, regulation and policy development is outstanding, and she will play a critical role in further enhancing our relationships with regulators and policy makers. Tracey is a great addition to our management team.”

Tracey McDermott added: "Standard Chartered operates in some of the most exciting and dynamic markets in the world. The opportunity to join the bank at this critical point in its history, and in a time of global change, is one which was too good to miss."

McDermott left the FCA on 1 July 2016.

She decided in early December 2015 to withdraw from the process to become the permanent Chief Executive of the FCA but continued as Acting Chief Executive until Andrew Bailey took up the position.

Tracey was previously Director of Supervision and Authorisations and prior to that Director of Enforcement and Financial Crime.

In June 2016 she received a CBE for "services to financial services consumers and markets".